For the purposes of both traffic-light control and the design of roadway layouts, it is important to understand pedestrian street-crossing behavior because it is not only crucial for improving pedestrian safety but also helps to optimize vehicle flow. This paper explores the mechanism of pedestrian street crossings during the red-man phase of traffic light signals and proposes a model for pedestrians' waiting times at signalized intersections. We start from a simplified scenario for a particular pedestrian under specific traffic conditions. Then we take into account the interaction between vehicles and pedestrians via statistical unconditioning. We show that this in general leads to a U-shaped distribution of the pedestrians' intended waiting time. This U-shaped distribution characterizes the nature of pedestrian street-crossing behavior, showing that in general there are a large proportion of pedestrians who cross the street immediately after arriving at the crossing point, and a large proportion of pedestrians who are willing to wait for the entire red-man phase. The U-shaped distribution is shown to reduce to a J-shaped or Lshaped distribution for certain traffic scenarios. The proposed statistical model was applied to analyze real field data.